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RPT-Dutch trust operator Intertrust buys Elian for 435 million pounds

Mon, 06th Jun 2016 06:41

(Repeats to add Reuters Instrument Code for Electra)

AMSTERDAM, June 6 (Reuters) - Intertrust plans tobuy rival Elian for 435 million pounds ($625.31 million) fromprivate equity firm Electra to expand in the CaymanIslands, Guernsey, Luxembourg and the Netherlands, the Dutchtrust firm said on Monday.

Intertrust will pay for the deal through a mix of cash,shares and assumed debt, and said the purchase would increasegroup earnings by 20 percent per share by 2018, due to costsavings and cross-selling advantages.

Intertrust said that Elian expects full-year 2017 revenue of96 million pounds ($138.00 million) and earnings beforeinterest, taxes, depreciation and amortisation of 36 millionpounds.

(Reporting by Toby Sterling, editing by Louise Heavens)

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